Bitcoin & Blockchain

The Entire History of Bitcoin in a Single Infographic. Suddenly, Spotify Goes Blockchain, Aims to Improve Tracking of Royalty Payments. Spotify, the largest European streaming music platform, has announced its decision to acquire Blockchain-related startup Mediachain.

Blockchain Technology Has The Power to Let Us Build An Entirely New Internet. A New Internet From the birth of language to the dawn of the Internet, the technologies that push humanity forward allow us to collaborate at new scales.

We agree on a common purpose, and work together in groups of increasing size and power. Today, with so many of us connected online, the goal of 3.5 billion people frictionlessly sharing knowledge and collaborating is, in theory, an achievable one. So why hasn’t the Internet united us? Why is our trust in institutions — government, media, and business — eroding?
Blockchain Is Helping Us Feed the World's Hungriest Families. A Different Way to Help Blockchain is making headlines everywhere — from the trading markets to even the arena of universal basic income.

Now, this super secure, decentralized digital network can also help feed the world.
All the Evidence You Need That Bitcoin Is Turning Into a Real Currency. Whether or not you know what blockchain is, you have probably heard of the seemingly mysterious cryptocurrency Bitcoin.

Bitcoin and its underlying blockchain network are quietly making headlines around the globe. The recent success of Bitcoin and the security of blockchain may have some consumers considering an investment in the new denomination, but others are still wary.
Humanity Has A Massive Trust Problem, But We Can Fix It. I had the privilege of attending Richard Edelman’s Trust Barometer speech at the World Economic Forum.

Richard was one of the most eloquent speakers I encountered at WEF. He presented the annual Edelman “Trust Barometer” report, based from an online survey composed of 33,000+ respondents in 28 countries. The report paints a relatively dark picture of our world’s global affairs; the title of the document, An Implosion of Trust, says it all. Some grim facts from the report: Trust in “institutions” defined as governments, corporations, NGO’s and media have all declined in 2016 to trust “lows” that are similar to those during the 2008/2009 financial crisis (without a precipitous event this year, like we had in ‘08).85% of survey respondents indicated they believe that the aforementioned institutions do not have their best interests in mind, and that they don’t trust in “the system”.Governments are distrusted in 75% of countries.

Personal Trust. Two mainstream blockchain developments already - Chris Skinner's blog. So one of my 2017 forecasts is coming true already: it is the year that blockchain moves out of proofs of concept and work and into the mainstream.

Two great examples broke out this week from skunk works to media. The first I spotted was the Chicago Mercantile Exchange (CME) Group using bitcoin for various means, one of which is to record digital gold with the Royal Mint. From the Royal Mint’s website: Royal Mint Gold (RMG), an innovative new product launching in 2017, will see The Royal Mint issue RMGs as a blockchain based digital record of ownership for gold stored at its highly-secure on-site bullion vault storage facility. CME Group, the world’s leading and most diverse derivatives marketplace, will develop, implement and operate the product’s digital trading platform which will see gold traded on an exchange using blockchain technology. Pretty innovative for 1,000 year old institution.
Blockchain is dead, long live the Blockchain - Chris Skinner's blog.

I’ve noticed a great deal of schadenfreude related to the R3 bump.

Lots of people saying that blockchain is past its sell-by date, R3 are bust and distributed ledgers are dead. I think it’s related to the journalists who, having delighted in bigging up blockchain big time for the past two years are now relishing the idea of trashing it but come on guys, blockchain is far from dead. It’s just entered the trough of disillusionment. For those unfamiliar with that term, it’s from the Crossing the Chasm book that defined the hype cycle of technologies. Often a technology is perceived to be massive but, because we over estimate how fast it will take off, we get disillusioned with the fact that nothing much is happening and so we start to feel it’s not going to happen.

Blockchain May Hold the Key to a Governance Crisis. This article was originally published by International Business Times.

The attraction of prediction markets as a system of governance can be summed up by the economist Alex Tabarrok who said: "a bet is a tax on bulls**t". Futarchy, the idea of using prediction markets as a guide to help organizations make decisions, was formalized by economist Robin Hanson in the 1990s. The way Futarchy works is when an organization sets out some objective it is trying to maximize, and then allows people to economically back the choices they believe will achieve that goal. If a decision between X and Y needs to be made, tokens for X and Y are issued and a market for each token is created.

Which digital currency will win: bitcoin or ether? - Chris Skinner's blog. I’m a big fan of Kraken, the digital currency exchange in California, as it’s my main exchange for investing in digital assets.

If you want to know more, checkout their general overview at the end of this blog.
The future of blockchain in 8 charts. Canadian writers and researchers, Alex and Don Tapscott, authors of the new book Blockchain Revolution, explain that blockchain goes way beyond the second coming of the internet.

The pair, like so many others, stumbled across blockchain via the bitcoin association, quickly realising the genie is out of the bottle. For beginners, blockchain is essentially a database, a giant network, known as a distributed ledger, which records ownership and value, and allows anyone with access to view and take part. A network is updated and verified through consensus of all the parties involved. When something is added it cannot be altered and, if it looks valid to everyone, the update is approved.
Explicit cookie consent. 15 Percent of Big Banks Will Be Using Blockchain by 2017, Says IBM. In Brief IBM surveyed 200 global banks and financial institutions as part of two recently released studies. The widespread use of Blockchain could lead to more secure, efficient banking experiences. Recent reports by IBM have revealed that by 2017, 15 percent of big banks worldwide and 14 percent of major financial institutions will be using Blockchain technology.

The Future of Work. Central bank digital currency: the end of monetary policy as we know it?
Marilyne Tolle. Central banks (CBs) have long issued paper currency. The development of Bitcoin and other private digital currencies has provided them with the technological means to issue their own digital currency. But should they? Addressing this question is part of the Bank’s Research Agenda. In this post I sketch out how a CB digital currency – call it CBcoin – might affect the monetary and banking systems – setting aside other important and complex systemic implications that range from prudential regulation and financial stability to technology, operational and financial conduct. I argue that taken to its most extreme conclusion, CBcoin issuance could have far-reaching consequences for commercial and central banking – divorcing payments from private bank deposits and even putting an end to banks’ ability to create money.

The next big question for central banks?
Big banks plan to coin new digital currency. Newspaper + Premium Digital All the benefits of a Premium Digital Subscription, plus: Free delivery to your home or office, Monday to Saturday FT Weekend - a stimulating blend of news and lifestyle Premium Digital All the benefits of a standard digital description plus: Unlimited access to all content Instant Insights column for comment and analysis as news unfolds FT Confidential Research - in-depth China and Southeast Asia analysis ePaper - the digital replica of the printed newspaper Full access to LEX - our agenda setting daily commentary Exclusive emails, including a weekly email from our Editor, Lionel Barber Full access to EM Squared- news and analysis service on emerging markets Brexit Briefing - Your essential guide to the impact of the UK-EU split Standard Digital.

Blockchain could be 'revolutionary' to this $2 trillion problem: HSBC. "Over $2 trillion of trade today depends on the physical exchange of documents," Vivek Ramachandran, global head of product and propositions for global trade and receivables finance at HSBC, told CNBC Tuesday. "What we've shown is blockchain has the potential to take away paper, which could be completely revolutionary if commercialised.
" According to Ramachandran, blockchain technology could serve as a trustworthy intermediary to share information between buyers and sellers. This would make international trading quicker and cheaper.
Hacked Bitcoin Exchange 'Bitfinex' Distributes Losses to All Users Equally. In Brief Late last week Bitfinex, a popular Hong Kong-based Bitcoin exchange, was hacked, losing about $70M worth of customers' Bitcoin. The loss caused the price of Bitcoin to drop about 20%, and it still hasn't fully recovered to pre-hack levels.

Socialized Loss On August 2, Hong Kong-based Bitcoin exchange, Bitfinex, was hacked, losing over $70 million of its customer’s Bitcoins, and ultimately dragging the cryptocurrency’s value down by 20%.
Why Canada Is Blockchain's Biggest Hot Spot. Is Blockchain-Powered Copyright Protection Possible?
The many uses and proposed uses for blockchain technology include smart contracts, decentralized payment systems, insurance claims, supply chain management, health records management, land title registration, energy grid management and now protection from copyright infringement.
Bitcoin Heist: $72 Million Worth of Bitcoin Stolen from Hong Kong Exchange. In Brief. There Was Just A $79 Million Cryptocurrency Heist. In Brief A cryptocurrency heist valued at $79 million occurred; however, the issue seems to have been addressed.

Ether When the Decentralized Autonomous Organization (DAO) began its experiment in crowdsourced investing, the initiative managed to raise over $150 million in ether. Ether is a form of cryptocurrency that is now gaining traction, rivaling the more popular bitcoin.
Fast FT. A new approach to consensus: Swirlds Hashgraph. As many people know, my interest in consensus mechanisms runs far and wide.
Reserve Bank Of India Mobilizes Blockchain & Fintech Initiatives.

How Blockchain Helps Brooklyn Dwellers Use Neighbors' Solar Energy : All Tech Considered. Money or property? The answer has big implications for bitcoin.
A judge in Florida ruled in a money-laundering case this week that bitcoin is not a currency — but experts aren't so sure. Miami-Dade Circuit Judge Teresa Mary Pooler dismissed charges Monday against a Florida man charged with illegally transmitting and laundering $1,500 in bitcoin. He couldn't launder or illegally transmit any money, Pooler said, because bitcoin doesn't qualify as a currency.
Blockchains: Ukraine's Solution to Ending Corruption?
In Brief. Royal Canadian Mint sells Mintchip digital payments platform to Toronto's nanoPay. The Royal Canadian Mint is ending its experiment with digital payments, selling off its MintChip platform to Toronto-based financial startup nanoPay. The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014.

Why the search for Bitcoin's founder matters. (Image: Jonathan Alcorn/Bloomberg via Getty Images)
An Introduction to Bitcoin and Blockchain for Financial Services. China (Unofficially) Authorizes Bitcoin, Price Turns Bullish [UPDATE]
The future of cryptocurrencies: Bitcoin and beyond. The Rainbow After The Bitcoin Storm. Researchers Use Game Theory to Identify Potential Problems for Bitcoin. New Bitcoin Rival Currency Will Offer More Anonymity, Say Its Creators. A Bitcoin Believer’s Crisis of Faith. Canada experiments with digital dollar on blockchain. Ethereum is the Forefront of Digital Currency — Stories From Coinbase.

Blockchain-Based Venture Capital Fund Raises $100 Million And Counting. The blockchain is a threat to the distributed future of the Internet. Vinay Gupta at Michel Bauwens & the Promise of the Blockchain. What can blockchain be used for, other than Bitcoin?
Bitcoin Crushes Bank Fees in Emerging Economies. Beyond Bitcoin, the Blockchain Looms Large. Applications for the Bitcoin Blockchain. Blockchain believers seek to shake up financial services - FT.com. Economist on block chain. The Blockchain is a New Model of Governance. Blockchain And The Future Of Finance. What can blockchain be used for, other than Bitcoin?